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Mike9241

form 7203 has been available for a few years now but perhaps you also have to use Form 6198 to indicate you are not at-risk for the excess loss.

PatriciaV

Please clarify which version of TurboTax you used to prepare your S-Corp return. Did you use TurboTax Expert Assist for Business or did you work directly with a TurboTax Expert?

kvgsadie

no quiero pagar dos meces como puedo confirma ese pago.

TurboTax_Susan

@BrownDR42 We've reported this issue to our development team, and they are looking into it. You'll get an email when the ticket is completed.

drehnert1978

do I need to fill out information for my mortgage interest?

yosemite798

Hello everyone, I am in the process prepare my 2025 tax return. Software: TurboTax Premier 2025 desktop edition Filing status: married file jointly. 2024 tax return prepared by ...

Hello everyone, I am in the process prepare my 2025 tax return. Software: TurboTax Premier 2025 desktop edition Filing status: married file jointly. 2024 tax return prepared by accountant. (I only have PDF file) I have flowing questions 1. verify capital loss carryover amount: $3,190 for 2025 is correct 2. verify AMT taxable income $208,492 for 2024 is correct 3. how to determine if I have capital loss carryover for 2026 1. After calculation, my capital loss carryover for 2025 is $3,190 (use amount in line 16 - amount in line 21) I entered -$3,190 on Schedule D (2025) line 14. Schedule D (2024) Data Line 13 capital gain distribution: $1,994 Line 14 long-term capital loss carryover: ( $8,094) Line 15 Net long-term gain or (loss): -$6,100 Line 16: Combine line7 and 15 enter result: -$6,190 Line 21: $3,000 2. My accountant didn't provide tax form 6251 for 2024. TurboTax software indicated without form 6251, taxpayer can calculate AMT taxable income for 2024 by adding amount listed on line 12 and line 15 on 1040 (2024) Form 1040 (2024) data Line 12 amount: $29,200 line 15 amount: $179,742 Line 11 AGI amount: $209,422 My 2024 AMT taxable income: $208,942 ($29,200 + $179,742) 3. On Schedule D (2025) Part III summary, line 16: -$2,437 line 21: -$2,437 I have no capital loss carryover for year 2026. Please let me know my conclusion is correct or not. I attached some screenshots for reference purpose. capital loss 2024 detail capital loss 2025 detail carryover worksheet 2025 schedule D (2025) part II Schedule D (2025) Part III Schedule D (2025) line 21

PatriciaV

Please clarify the source of Schedule K-1 (Form 1065 or Form 1120-S). Also, what code was reported for Box 20?

Mike9241

Maybe because if you are covered by an FSA, you can have an HSA for that month Can I have an FSA and an HSA? Can I have an FSA and an HSA? Can I have an FSA and an HSA? Generally ...

Maybe because if you are covered by an FSA, you can have an HSA for that month Can I have an FSA and an HSA? Can I have an FSA and an HSA? Can I have an FSA and an HSA? Generally speaking, you cannot have an HSA and a health FSA at the same time. An FSA is considered additional health coverage by the IRS and would disqualify an individual from opening or contributing to an HSA. However, there are limited exceptions to this. A Limited Purpose FSA (LPFSA) that only covers vision and dental expenses can be paired with an HSA. You may hear LPFSAs sometimes referred to as "HSA-compatible FSAs". A Dependent Care FSA (DCFSA) that covers dependent care expenses that allow an individual to work or look for work is also compatible with an HSA because it is not medical coverage. Also HSA-compatible but less common is a Post-Deductible FSA. Before you hit your minimum deductible for the year, expenses are limited to dental and vision only with this account. Once you hit your minimum HSA deductible for the year, you can use the money from the post-deductible FSA account for all qualified medical expenses

dchiang8

Thank you, Marilyn G1. I had leased the vehicle I now own. The lease expired on 6/7/2025. I purchased it at the end of the lease, not new, on 6/7/2025. I took depreciation for 6 months in 2025. I ha...

Thank you, Marilyn G1. I had leased the vehicle I now own. The lease expired on 6/7/2025. I purchased it at the end of the lease, not new, on 6/7/2025. I took depreciation for 6 months in 2025. I had been using the leased car for business from 6/7/2020 when the car was brand new. I did not take deprecation in 2024. The car was never rented. Should I enter anything in the Rental Section? I am confused by your suggestion of entering in Rental Section for 2025 depreciation. Pls explain. Thanks. Dchiang8

PortoFC

I have been running into the same issue using Forms path. The Person worksheet data was not flowing to the Student information Sheet correctly. The Part 2 - College Student information questions 1-...

I have been running into the same issue using Forms path. The Person worksheet data was not flowing to the Student information Sheet correctly. The Part 2 - College Student information questions 1-4 flowed with the opposite answer that I included in the Person worksheet. This should be reviewed by Turbo Tax and fixed (I have the latest update). Per previous posts, I did also re-enter the data via the Step by Step path and the information now flows correctly.

SteamTrain

@starfisht Actually we don't usually recommend paying before you actually file your taxes. You should just file first, then pay at ~ the same time. Not sure what happens if you pay as a late ...

@starfisht Actually we don't usually recommend paying before you actually file your taxes. You should just file first, then pay at ~ the same time. Not sure what happens if you pay as a late estimated payment. There have been instances where the tax people have simply sent back the $$ because they don't know why you sent it since they don't have your tax forms yet. Of course, we can't know if it will happen in your case. In the end the IRS and/or State may end up assessing you some more $$ in penalties and interest anyhow....depending on exactly when you do actually file.....so get those tax forms filed ASAP.

bo_baker

wms52

TURBOTAX is posting a Maryland 2% EXCESS INCOME tax (line 21b) on our Capital Gains......despite the fact that our Capital Gain is mostly from the sale of our VIRGINIA rental property (Virginia sale ...

TURBOTAX is posting a Maryland 2% EXCESS INCOME tax (line 21b) on our Capital Gains......despite the fact that our Capital Gain is mostly from the sale of our VIRGINIA rental property (Virginia sale Capital Gain is 387,000 but is reduced by -17,000 LOSS in stocks). Overall total MARYLAND income without the VIRGINIA rental is under $100,000. But Turbotax is calculating that we must pay $27,000 in income tax. What are we doing wrong?

kc5

What would the filing status be for a taxpayer that lived in Mississippi for most of 2025, then was married and later moved to Tennessee. The spouse never lived or worked in Mississippi, therefore s...

What would the filing status be for a taxpayer that lived in Mississippi for most of 2025, then was married and later moved to Tennessee. The spouse never lived or worked in Mississippi, therefore should not be required to file in Mississippi. This couple also had a child at the end of 2025. They are filing as married filing jointly for Federal Return. For the Mississippi return can the taxpayer that lived in Mississippi file as married filing separately and claim the dependent? TN does not have income tax, so the dependent is not claimed in any other state by the spouse for State tax purposes. Thank you Kari

PatriciaV

Residential Real Property is not eligible for Special Depreciation. This includes the building and any improvements, and is the only type of property depreciated over 27.5 years. When testing t...

Residential Real Property is not eligible for Special Depreciation. This includes the building and any improvements, and is the only type of property depreciated over 27.5 years. When testing this calculation, entering a different class of depreciable asset (7 year) and claiming 50% special depreciation resulted in the correct depreciable basis.

Bsch4477

That deduction is included in your AZ return in line 36.

AmeliesUncle

@NCperson wrote: but if he is a dependent or can be a dependent, they the WHOLE THING would require repayment. And if someone CAN claim him but doesn't, then he is part of their househol...

@NCperson wrote: but if he is a dependent or can be a dependent, they the WHOLE THING would require repayment. And if someone CAN claim him but doesn't, then he is part of their household in any event and it all needs to be repaid - that is my understanding. You can't avoid the PTC repayment just by not claiming the dependent. Where do you see that the repayment limitation would not apply? When signing up for insurance, if the kid had attested he would NOT be a dependent (and had reason to believe that would be true), it goes on the kids return if he is not actually claimed. See Regulation §1.36B-4(a)(1)(C). (C) Responsibility for advance credit payments for an individual not reported on any taxpayer's return. If advance credit payments are made for coverage of an individual who is not included in any taxpayer's family, as defined in §1.36B-1(d), the taxpayer who attested to the Exchange to the intention to include such individual in the taxpayer's family as part of the advance credit payment eligibility determination for coverage of the individual must reconcile the advance credit payments. https://www.law.cornell.edu/cfr/text/26/1.36B-4

user17742036160

I received honorariums and then recieved a T4A with the amount in Box 48. I'm not self-employed and the honorariums were for Traditional Indigenous activities. I'm being forced to input self employed...

I received honorariums and then recieved a T4A with the amount in Box 48. I'm not self-employed and the honorariums were for Traditional Indigenous activities. I'm being forced to input self employed info. How do I proceed?

douglasbporter

I have cleaned my cashe, and browsing history. Desktop has no way to manually edit this form that I can find. I have re-entered the data after deleting but TT still shows form after i delete it. I...

I have cleaned my cashe, and browsing history. Desktop has no way to manually edit this form that I can find. I have re-entered the data after deleting but TT still shows form after i delete it. Instructions don't appear to work to delete the form

Mike9241

you have a loss which is a negative number.

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Re: I am trying to open my Scorp file. I already filed. I have the State. I need a copy.

Quiero saber si me aceptaron mis pagos de federal tax return de $239 y de virginia tax return de $615 lo hice con mi targeta de debito en turbo tax

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do I need to file my 1098 form for 2025 year?

manually enter capital loss carryover from 2024

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Re: I forgot to schedule estimated tax for 2025. what now?

why is it taking almost 60 days to get my refund?

Maryland 2% EXCESS tax

Mississippi filing as married filing separate and claim dependent, married filing jointly on Federal return

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Re: $6,000 Senior deduction on Arizona state income tax

Re: Form 1095-A for an adult child as a dependent or not dependent?

Box 48 But Not Self-employed

Form 5695, incorrectly shows "NO" in boxes 17a,b,c even though I answered "YES"

Re: Sales of Business Property is a negative number

Do you have a TurboTax Online account?

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